Remember in 2008 the big catalyst to the stock market and economy blowing up was the “Subprime Mortgage” debt mess. After the beginning effects of the subprime debt was felt by the economy, all stock markets around the world plunged.
Fast forward to today. Oil has taken a huge hit down over 50% and this has ripple effects. The full effect of it has not worked its way into the economy, but it is coming. Today, we learn that Standard Chartered Bank one of the largest bank in Singapore took roughly a $3 Billion loss, due to oil derivatives. As the months go by, there will be more.
Couple that with geo-political problems in the world…year 2015 is going to a rough year in the markets. Hold on to your hats..the roller coaster is on its way down.
by
Das Brain
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Tags: 2008 Sub-Prime, Crisis, Double, Explosion, Oil Derivatives, USA Watchdog
